Western Alliance Bancorporation (NYSE:WAL) Stock Holdings Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Western Alliance Bancorporation (NYSE:WAL - Free Report) by 1.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 968,210 shares of the financial services provider's stock after selling 11,889 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of Western Alliance Bancorporation worth $74,388,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WAL. Smartleaf Asset Management LLC increased its stake in shares of Western Alliance Bancorporation by 56.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 326 shares of the financial services provider's stock worth $27,000 after acquiring an additional 117 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Western Alliance Bancorporation during the fourth quarter worth $26,000. Victory Capital Management Inc. boosted its holdings in Western Alliance Bancorporation by 66.2% during the 4th quarter. Victory Capital Management Inc. now owns 30,079 shares of the financial services provider's stock valued at $2,513,000 after acquiring an additional 11,978 shares during the period. Atria Investments Inc grew its holdings in shares of Western Alliance Bancorporation by 2.2% in the fourth quarter. Atria Investments Inc now owns 10,927 shares of the financial services provider's stock valued at $913,000 after purchasing an additional 240 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Western Alliance Bancorporation in the fourth quarter valued at $7,377,000. Institutional investors and hedge funds own 79.15% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on WAL. JPMorgan Chase & Co. lifted their price target on shares of Western Alliance Bancorporation from $80.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. DA Davidson reduced their target price on Western Alliance Bancorporation from $106.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen raised Western Alliance Bancorporation from a "sell" rating to a "hold" rating in a report on Wednesday, May 21st. Wells Fargo & Company boosted their price objective on shares of Western Alliance Bancorporation from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Royal Bank Of Canada cut their target price on shares of Western Alliance Bancorporation from $105.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.50.

Western Alliance Bancorporation Trading Down 0.9%

Shares of Western Alliance Bancorporation stock traded down $0.73 during trading hours on Friday, hitting $84.38. The company's stock had a trading volume of 611,506 shares, compared to its average volume of 1,215,839. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.32 billion, a PE ratio of 11.57, a P/E/G ratio of 0.64 and a beta of 1.29. The business has a fifty day moving average of $75.85 and a 200 day moving average of $78.32. Western Alliance Bancorporation has a 1-year low of $57.05 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $790.10 million during the quarter, compared to the consensus estimate of $792.25 million. Western Alliance Bancorporation had a return on equity of 12.57% and a net margin of 15.80%. During the same quarter in the prior year, the business earned $1.72 earnings per share. As a group, equities analysts forecast that Western Alliance Bancorporation will post 9.05 EPS for the current year.

Western Alliance Bancorporation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Thursday, May 15th. Western Alliance Bancorporation's dividend payout ratio (DPR) is 20.85%.

Western Alliance Bancorporation Profile

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.